So instead of the apples to apples number being $565,000, we add in the $550,000 of equity that she already has by owning the house outright.

You could continue holding the HELOC and paying the IO payment until rates drop again but if you want to free up your HELOC to purchase other properties or use it for other purposes, you cannot.2.

Make sure you are comparing apples to apples.

It was a really cool deal that took a year to put together but I got it done.Now I have a $558,000 bridge loan at 3.5% for 5-years with IO For 18 months that started October 2021 and because I put one of my properties up as collateral, I brought nothing to the table.

Am I comparing apples and oranges.  

It is an exciting time in the Big Apple.

I am also skilled in IT and repair of Apple products and hold an ACMT certification.

She sounds like a real bad apple.

If it’s a matter of price, just ask if they’ll beat your other quote, and be clear on the scope of work so you’re comparing apples to apples.

Apples and oranges as your tax status has little to do with your loan application but has to do with your intended use of the property.They may count rental income if you show a rental agreement effective the day of your purchase or very soon after, credit unions can have leeway on a commercial side, depends on other factors of your qualifying and customer status.